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Qatar achieves trade balance surplus in first quarter of 2022

Qatar trade balance

Doha, (Business News Report)|| Qatar has achieved a surplus in the trade balance for the first quarter of this year 2022, according to the data of the Planning and Statistics Authority.

The data also showed a surplus in the trade balance of 74.6 billion riyals, compared to a surplus in the trade balance for the first quarter of last year, which amounted to 39.9 billion riyals.

Meanwhile, the total Qatari exports during the first quarter of this year amounted to 103.8 billion riyals, an increase of 39.8 billion riyals (62.2%).

The first quarter of 2021 recorded total exports of 64 billion riyals, an increase of 3.8 billion riyals, or 3.8%, compared to the fourth quarter of last year.

The Planning and Statistics Authority attributed the main reason for the increase in total exports during the first quarter of this year (compared to the first quarter of 2021) to the increase in exports of mineral fuels, lubricants and similar materials, with a value of 35 billion riyals, or 65.5%, and chemicals and their products not mentioned at a value of 35 billion riyals. 3.4 billion riyals, or 57.1%.

Raw materials, excluding fuel, also increased with a value of 0.8 billion riyals, at a rate of 1013.4%, manufactured goods and classified mainly by substance by 0.6 billion riyals, or 30.2%, and food and live animals by 0.03 billion riyals, or 83.3%.

Meanwhile exports witnessed a decrease in machinery and transport equipment by 0.05 billion riyals, by 2.1 percent, and miscellaneous manufactures, by 0.01 billion riyals, by 2.2 percent.

With regard to imports, they recorded during the first quarter of this year 29.2 billion riyals, an increase of 0.6 billion riyals, or 2%, compared to the fourth quarter of 2021.

The main reason for the increase in the total value of imports compared to the same period of the previous year is due to the rise in imports of miscellaneous manufactures with a value of 1.7 billion riyals, or 39.7%.

As well as, the exports of machinery and transportation equipment rose with by 1.2 billion riyals (13.7%); mineral fuels, lubricants and similar materials by 0.6 billion riyals (299.5%), chemical materials and their products by 0.55 billion riyals (21.2%), and manufactured goods by 0.52 billion riyals (14.3%).

On the other hand, imports did not witness a significant decrease in the first quarter of 2022.

Asian countries ranked first for the countries of destination for Qatari exports during the first quarter of 2022, as well as for the countries of origin for Qatari imports during the same year.

They accounted for 75.5% and 41.3%, respectively, followed by the European Union at 14.4% and 28.5%, respectively, and the Gulf Cooperation Council countries with a rate of 5.4% and 5.8%, respectively.

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